Ethereum

Tom Brady Wants Part of His Salary to be in Bitcoin, Ethereum and Solana

The legendary football player Tom Brady once again showed his support for the digital asset sector. He stated that he would love to have some of his earnings in Bitcoin, Ethereum (ETH), and Solana tokens.

‘ The Digital Age is upon Us ‘

Tom Brady, the seven-time Super Bowl champ and undoubtedly one of the most outstanding football players, is a strong proponent of crypto. During a recent interview with Jim Gray on the Let’s Go Sirius XM podcast, he revealed that he wants to get part of his NFL salary in digital assets instead of fiat currencies.

Apart from the two leading cryptocurrencies by market capitalization – Bitcoin and Ethereum – Brady also showed interest in one of the best performing blockchain projects this year – Solana:

“I’d love to get paid in some Bitcoin or Ethereum or Solana tokens. I think it’s an amazing thing that’s happening in the world with the way the world is becoming more digital.”

The quarterback praised the underlying technology behind digital assets as the future as it allows fast and transparent transactions. He predicted that athletes would soon be able to request cryptocurrency payments:

The digital age is here. We won’t be going back, I think. The technology and information are helping us track things better. And I definitely see a world where players are going to be paid in cryptocurrencies in the future.”

In fact, the professional football player Saquon Barkley already said he would receive all his future endorsement money in bitcoin. The 24-year-old running back of the New York Giants highlighted the primary cryptocurrency as the right choice for a store of value, especially when inflation starts to shake the economy.

Tom Brady’s Previous Crypto Endeavors

This is not the first time that the American football player has been involved in the cryptocurrency space.

In April, Brady jumped into the non-fungible token craze by releasing his own NFT platform called Autograph. He launched the initiative to bring together prominent names from different industries such as sports, fashion and entertainment who would create their own unique digital artworks. The platform has already been used by Naomi Osaka, Tony Hawk, Tiger Woods and Tony Hawk.

Shortly after, the quarterback doubled down on his cryptocurrency endeavors. He and Gisele Bundchen, his wife, took an equity share in FTX, a digital asset trading platform. The exchange would pay them a commission and they would also serve as ambassadors.

Featured Image Courtesy of Al Jazeera

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Ethereum

Bitcoin Price Stalls at $94K, Ethereum Struggles to Maintain $3.2K (Weekend Watch)

Bitcoin’s volatile end of the week resulted in a price drop toward $91,000 and a subsequent surge to $96,000 before the asset calmed roughly in the middle.

The altcoins continue to struggle as SOL, ADA, and AVAX have charted 4% daily declines.

BTC Calms at $94K

It was nothing short of a volatile rollercoaster of a week for the primary cryptocurrency. It all started quite promising after the most recent MicroStrategy purchase on Monday, as the asset flew past $100,000 for the first time this year and kept climbing on Tuesday morning to over $102,000.

However, that’s when the landscape changed, and BTC slumped hard later that day, and on Wednesday, it slumped to $96,000. Although that was a painful correction on its own, bitcoin kept plunging in the following days to $91,200 (on Bitstamp) on Thursday, which became its lowest price tag in over a month.

The bulls managed to intervene at this point and pushed BTC north. More volatility ensued with several big moves that eventually pushed the asset to $96,000. However, it failed there and has lost almost two grand since then to trade at $94,000 as of now.

Its market cap has risen to just under $1.870 trillion on CG, while its dominance over the alts is up to 54.5%.

ADA, SOL Struggle

Most altcoins are in the red today as well. Ethereum slipped below $3,200 on Thursday, and even though it managed to recover some ground since that low is close to breaking below it now after a 2.3% daily decline. XRP is among the few alts with minor gains today.

In contrast, SOL, ADA, SUI, AVAX, and LINK continue to lose value, with losses of up to 4%. SOL is well below $190 now, while ADA is just over $0.9. More painful losses come from OM, ICP, and RNDR from the larger cap alts.

The total crypto market cap has lost some steam since yesterday and is down to $3.43 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto

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Ethereum

Weekly Bitcoin, Ethereum ETF Insights: The Highs, Lows, and Key Takeaways

After struggling at the end of the year with numerous consecutive days of net outflows, the spot Bitcoin ETFs in the States finally registered some notable inflows on Friday.

The Ethereum counterparts sit in the opposite corner, as they have been mostly in the green since mid-December despite the FOMC aftermath on the entire market.

BTC ETFs Are Back

The latest FOMC meeting that took place in mid-December had a dramatic and immediate effect on US-based investors in terms of their Bitcoin-related activities. Following a superb streak after the presidential elections in which they poured billions of dollars within weeks into the regulated BTC financial vehicles, they did a 180-turn and started taking funds out.

December 19 was the worst day in terms of daily net outflows, with $671.9 million taken out. By January 2, seven out of the nine trading days were in the red, with a total withdrawn amount of roughly $2 billion.

This negative streak was finally broken on Friday as the spot Bitcoin ETFs saw $908.1 million in net inflows. Fidelity’s FBTC led the pack with $357 million, followed by BlackRock’s IBIT at $253.1 million and Ark Invest’s ARKB at $222.6 million. No fund recorded any outflows.

Friday’s numbers were so impressive that they managed to turn the whole week around. After the $415.1 million withdrawn on Monday and $242.3 million on Thursday, the week ended in the green with $256 million in net inflows, given the minor $5.3 million on Tuesday.

BTC’s price actions within the same week were quite volatile as the asset slumped hard on Monday amid the massive outflows to $91,300. However, it pumped to almost $99,000 later during the week as the inflows returned.

Ethereum ETFs’ Landscape

Unlike the BTC ETFs, the funds tracking Ethereum saw fewer days in the red after the aforementioned Fed meeting. Withdrawals were observed on December 19 and 20, but investors started to pour funds into them in the following days.

The past week was less positive, though, as net outflows dominated. $55.5 million was withdrawn on Monday and $77.5 million on Thursday. The $36 million in net inflows on Tuesday and $58.9 million on Friday couldn’t make up the difference, and the week ended with $36.1 million in the red.

ETH’s price tumbled hard on Monday as well but is 6.5% up on a weekly scale, which is more than double the increase for BTC. As of press time, Ethereum’s native token stands above $3,600.

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Ethereum

Ethereum Price Analysis: ETH Retakes Key Resistance at $3.5K, Can it Go for $4K Next?

Ethereum has recently experienced a surge in buying activity, finding robust support at the critical $3.5K level, triggering a bullish rebound.

Despite this recovery, the $4K resistance remains a significant barrier that ETH buyers aim to overcome in the mid-term.

Technical Analysis

By Shayan

The Daily Chart

Ethereum’s price action has been characterized by a notable rebound after encountering support at the decisive $3.5K level. This region served as a pivotal accumulation zone, fostering increased buying pressure and a subsequent upward surge. As the price climbs, the $4K resistance emerges as a critical psychological and technical barrier, requiring a decisive breakout to establish a sustained upward trajectory.

Currently, Ethereum is consolidating within the $3.5K-$4K range, indicating a potential breakout in either direction. A successful breach of the $4K threshold could set the stage for a fresh rally and affirm bullish sentiment. Conversely, a rejection at this level may lead to further consolidation or retracement within the existing range.

The 4-Hour Chart

On the lower timeframe, Ethereum’s decline found solid support within the key 0.5 ($3.2K)–0.618 ($3K) Fibonacci retracement levels. This support zone attracted substantial buying interest, halting the downtrend and sparking a bullish recovery.

The subsequent accumulation phase has transitioned into a bullish spike, with Ethereum now eyeing the critical $4K resistance. This level, coinciding with a previous significant swing high, is expected to be a strong selling pressure zone.

Ethereum’s price action at the $4K level will determine its future trajectory. A successful breakout above this resistance could lead to a robust rally, while a failure might result in prolonged consolidation or a potential retest of lower support levels near $3.5K.

Onchain Analysis

By Shayan

The Taker Buy Sell Ratio, a pivotal metric for assessing sentiment in the futures market, provides insights into whether buyers or sellers are more aggressive in executing market orders. Following Ethereum’s bullish rebound near the $3K support, this metric has exhibited a notable uptick, indicating a surge in market buy orders within the futures market.

This trend suggests that futures market participants are increasingly optimistic about Ethereum’s short-term price trajectory, expecting the asset to push toward the $4K resistance.

Takers’ Buy/Sell Ratio exceeding 1 means buyers are overwhelmingly dominant, often aligning with the onset of a bullish trend. The current data underscores this sentiment shift, reflecting heightened confidence among traders and an expectation of continued upward momentum.

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